The Physical Foundation of Economics: An Analytical Thermodynamic Theory (Hardcover)
Product Details
* Hardcover: 132 pages
* Publisher: World Scientific Publishing Company (November 30, 2005)
* Language: English
* ISBN-10: 9812563237
* ISBN-13: 978-9812563231
* Product Dimensions: 9.1 x 6.1 x 0.7 inches
* Shipping Weight: 13.4 ounces
Editorial Reviews
Professor Dietrich Stauffer, University of Cologne
… an interesting attempt to use the physics concept of entropy in economic sciences.
Books-On-Line
…it is a fascinating read that helps me (not an economist) make a little more sense out of the world.
Before I begin this review, let me just say that I was a student of Jing Chen so there will naturally be some bias here, but I will try to be fare.
This book presents a theory that bridges the well ordered world of physics and the chaotic world of economics. It goes a long way in explaining why the world of human structures and systems are the way they are and suggests that, perhaps, the world is not as unpredictable, chaotic or complex as the dismal science would have us believe. This book contains a fundamental idea that leaves readers thinking, “that’s so simple and obvious, I could of thought of that”.
Unfortunately the book does suffer from being too complex for a wide audience. Some people will be intimidated by the mathematics involved, but if you can get past the math this book is very worthwhile. A “dumbed down” version would be nice to see so this profound idea could be brought to a wider audience.